Nvidia (NVDA.O) is set to report after the market closes on Wednesday, a key event for investors since U.S. labor market data for September, due Thursday, may be somewhat outdated, News.Az reports, citing Reuters.
S&P 500 futures rose 0.4% in Asia trading, while Nasdaq 100 futures climbed 0.7%. European and FTSE futures slipped about 0.1%.
Expectations for a U.S. interest rate cut in December have fallen below 50% after policymakers expressed caution, pressuring stocks, particularly the technology sector.
In Asia, Japan’s Nikkei (.N225) fell 0.2% as tourism and retail stocks declined sharply after China advised citizens against visiting Japan. Department store operator Isetan Mitsukoshi, Muji parent Ryohin Keikaku (7453.T), and cosmetics maker Shiseido (4911.T) each dropped around 10%.
Australia’s market remained flat (.AXJO) despite a 0.6% drop for BHP (BHP.AX) after Britain’s high court held it liable for a dam collapse in Brazil. Hong Kong (.HSI) and China (.CSI300) both declined about 1%.
Japan’s economy contracted for the first time in six quarters due to U.S. tariffs, while a $110 billion stimulus plan pushed 20-year bond yields to a 26-year high of 2.75%. Analysts warned of potential risk to the yen if confidence in fiscal discipline erodes, echoing market reactions in Britain last week.
U.S. 10-year Treasury yields remained at 4.163% in Asia following Friday’s trading. Wall Street had a mixed close on Friday, with a slight drop for the S&P 500 and modest gains for the Nasdaq (.IXIC).
